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r # (516/517) iv \ s«* N ; & S l »*»* * " Selected Interest & Exchange Rates Weekly Series of Charts # December 10,1979 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551 r ^ § ^ Table of Contents TABLES SUBSCRIPTION RATES: 1. LATEST FIGURES PLOTTED Weekly $15.00 per year or $.40 each in the United States, its possessions, Canada, and Mexico; 10 or more of the same issue to one address, $13.50 per year or $.35 each. Elsewhere, $20.00 per year or $.50 each. Address requests to Publications Services, Division of Administrative Services, and make payment remittance payable to the order of the Board of Governors of the Federal Reserve System in a form collectible at par in U.S. Currency. 2. DAILY CERTIFIED SPOT EXCHANGE RATES-H.10 RELEASE CHARTS 1. SPOT EXCHANGE RATE INDICES 2. 3-MONTH FORWARD EXCHANGE RATES 3. GOLD PRICE- LONDON 4. CALL MONEY RATES 5. 3-MONTH INTEREST RATES 6. EURO-DOLLAR DEPOSIT RATES 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES 8. INTEREST ARBITRAGE: 3-MONTH FUNDS 9. LONG-TERM GOVERNMENT BOND YIELDS 10. INDUSTRIAL STOCK INDICES CHART 1 SPOT EXCHANGE INDICES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIO SCALE MARCH 1 9 7 3 = 1 0 0 RATIO SCALE MARCH 1 9 7 3 = 1 0 0 120 120 100 FOREIGN CURRENCY PRICE OF U.S. DOLLAR 80 l 60 180 # 160 I I I I I CANADIAN DOLLAR 80 60 GERMAN MARK — , FRENCH FRANC - - 120 7- 100 - ^ —• 100 I 160 — 140 — - I I I I I l l h i l l l l l l n 1111 r 1117 80 " I I I I I I I I I —| aA — A 240 — JAPANESE YEN 120 - — e # 100 I" 140 120 - SWISS FRANC 200 rhX/ / 160 \- 100 - • - M 80 160 140 ^ i l l ! ! I I | I I | I I | I I — - DUTCH GUILDER - i, 1111H i n M | I I | M | I~|" j \ J 120 BELGIAN FRANC - 120 # 100 I l l I I I - I I | I I | I I | I I 100 # — - 80 A k U.K. POUND —V 7" ITALIAN LIRA A / I # e 60 - i i i I I 1977 I 1979 1977 140 1979 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 6 — CANADIAN DOLLAR ITALIAN LIRA - - - T I M I I I ~ „ l „ l , , I n rr i i i im U. K. POUND DUTCH GUILDER — 6 J _ ± 18 GERMAN MARK - SWISS FRANC I I I I V I 12 A/ I 111 I I I I I 1 1 1 — FRENCH FRANC - JAPANESE YEN 12 1 6 - + 0 ,i 1977 1979 1977 1.1 W iiliiliiln 1979 6 10/19/79 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 450 450 400 400 350 350 12.5 Kg BARS AFTERNOON FIXING PRICE 300 300 250 250 200 200 150 150 I I I I I I I I I I I I 100 100 1976 1977 1978 1979 CHART 4 CALL MONEY RATES WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM 16 18 12 10 - JAPAN OVERNIGHT EURO-DOLLARS U.S. FEDERAL FUNDS X ' S \ U.K. 2-DAY LOCAL AUTHORITY 12 NETHERLANDS 10 u. fj I r< I — I I I I - 8 - 4 iiIiilliIii — - 12 - - FRANCE I 12 CANADA 8 - J 1 I 1 1 1977 1 1 - 1 EURO-DM I 1 — 1 J / I 1 EURO-SWISS FRANC I GERMANY - 1 - I I , , 1979 1977 1979 4 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM 16 — 12 - U.K. INTERBANK STERLING U.S. CD'S WEIGHTED AVERAGE FOREIGN RATE 10 10 GERMAN INTERBANK RATE JAPANESE BANK LOANS AND DISCOUNTS I J J - - # 6 v - # 2 I I I I II I II I III I I II I II II II I 17 — SWISS INTERBANK RATE r CANADIAN FINANCE CO. PAPER E 11 • s — A N - - W 5 A I I I I I 1977 I MIIIIIIIM lllllllllll 1979 I I I I I 1977 I 1979 ~ CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 16 16 I — — 12 __ OVERNIGHT 3-MONTH - I I I II I II I II 6-MONTH 7-DAY 1-YEAR 1-MONTH 1977 1979 CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 16 16 14 12 OVERNIGHT EURO-DOLLAR 10 DEPOSITS 3-MONTH EURO-DOLLAR DEPOSITS (/ FEDERAL FUNDS ' DASHED LINE y 90-DAY CD S DASHED LINE I I I I M I I I I I I I I I I I I 4 2 DIFFERENTIAL ADJUSTED FOR RESERVE DIFFERENTIAL REQUIREMENTS 11111111111 1977 FAVORS BORROWING IN U. S . IF POSITIVE 1979 1977 1111111111 1979 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PER PER CENT PER A M ENT PER ANNUM 20 16 EURO-DOLLAR DEPOSITS CANADIAN FINANCE CO. PAPER, COVERED 12 8 4 INTERBANK STERLING + COVERED LONDON 0 R U.S. COMMERCIAL PAPER 4 4 DIFFERENTIAL V 1 DIFFERENTIAL + 0 | | | 18 16 14 12 SWISS INTERBANK (SF) COVERED INTERBANK DM COVERED FRANKFURT 10 8 EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS DASHED LINE 6 4 2 DIFFERENTIAL + 0 DIFFERENTIAL 2 1977 1979 1977 1979 - CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM 13 12 UNITED STATES R — 10 11 — CANADA — -x I I 1 1 1 1 I - I I III III III I I I I I ; II I II I II I SWITZERLAND GERMANY FRANCE UNITED KINGDOM NETHERLANDS Lllll u . S. CORPORATE MONTHLY MONTHLY Aaa BONDS JAPAN EURO-DOLLAR 1977 BONDS 1979 1977 1979 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO ! 1969=1 RATIO SCALE 1969=100 -E 200 140 UNITED STATES 120 y 100 1 A 160 J UNITED KINGDOM 80 l I l 360 320 JAPAN 280 240 200 140 CANADA 120 SWITZERLAND DISCONTINUED SERIES 100 FRANCE GENERAL INDEX GERMANY 1977 1979 1977 1979 SERIES CHART 1 . LAST VALUE PLOTTED DATE VALUE NAME SPOT EXCHANGE RATES AND I N D I C E S WEEKLY AVERAGES, NOON BUYING RATES ( U . S . CENTS) DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA INDICES, MARCH 1 9 7 3 5 DEC. 5 DEC. 5 DEC. DEC. ' 5 5 DEC. 5 DEC. 5 DEC. 5 DEC. 5 DEC. WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , ( G - 1 0 COUNTRIES PLUS SWITZERLAND) U . S . DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA 3-MONTH FORWARD EXCHANGE: RATES, CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN I T A L I A N LIRA 57.80 0.40308 52.04 219.32 85.66 24.58 62.64 3.54626 0.12285 BASE RATES = 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA CHART 2 . 5 5 5 5 5 5 5 5 5 MAR 1 9 7 3 162.60 105.54 149.39 88.71 85.38 110.77 201.52 139.74 69.79 == 100 DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 5 5 5 5 5 5 5 5 5 5 5 86.71 156.40 93.68 136.24 77.41 74.73 98.90 183.18 126.38 60.16 94.63 5 5 5 5 5 5 5 5 0.38 -2.31 5.15 0.33 9.21 0.32 5.40 -2.27 PREMIUM OR DISCOUNT DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. LAST VALUE PLOTTED DATE VALUE SERIES NAME GOLD PRICE CHART 3 . U.S. CHART 4 . I N LONDON, AFTERNOON F I X I N G DOLLARS PER F I N E OUNCE DEC. 5 422.74 DEC. DEC. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. 5 5 30 30 30 30 30 30 2 30 13.77 12.84 16.25 13.00 7.90 8.50 7.75 12.13 8.50 0.49 DEC. DEC. DEC. DEC. DEC. DEC. DEC. 5 5 5 5 5 5 5 13.06 9,60 8.33 13.90 16.78 4.77 11.33 DEC. DEC. DEC. DEC. DEC. DEC. 5 5 5 5 5 5 12.84 13.25 13.95 14.18 13.96 12.86 5 5 5 12.84 13.77 -0.93 CALL MONEY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U . K . 2 - D A Y LOCAL AUTHORITY DEPOSITS CANADA GERMANY EURO-DM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC CHART 5 . 3-MONTH INTEREST RATES U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE BANK LOANS & DISCOUNTS CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN WEIGHTED AVERAGE FOREIGN INTEREST RATE ( G - 1 0 COUNTRIES PLUS SWITZERLAND) CHART 6 . EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7 . SELECTED EURO-DOLLAR AND U . S . RATES MONEY MARKET RATES OVERNIGHT EURO-DOLLAR DEPOSITS U . S . FEDERAL FUNDS D I F F E R E N T I A L A D J . FOR RESERVE REQUIREMENTS DEC. DEC. DEC. 3-MONTH EURO-DOLLAR DEPOSIT RATE U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET DIFFERENTIAL DEC. ' 5 5 DEC. 5 DEC. 14.18 13.06 l.lj| i e e SERIES CHART 8 . # # LAST VALUE PLOTTED DATE VALUE NAME INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING ( L O N D O N ) , DIFFERENTIAL U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, DIFFERENTIAL COVERED EURO-DOLLAR DEPOSIT INTERBANK DM ( F R A N K F U R T ) , DIFFERENTIAL e # COVERED EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL CHART 9 . e COVERED DEC. DEC. DEC. 5 5 5 14.18 14.37 -0.19 DEC. DEC. DEC. 5 ,5 5 12.70 14.29 -1.59 DEC. DEC. DEC. 5 5 5 14.18 14.88 -0.70 DEC. DEC. DEC. 5 5 5 14.18 14.10 0.08 NOV. NOV. OCT. NOV. NOV. SEPT. NOV. NOV. 30 16 10.34 8.18 8.41 3.26 10.94 11.65 9.03 12.45 LONG TERM GOVERMENT BOND Y I E L D S UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE. NETHERLANDS UNITED KINGDOM 16 30 14 2 30 U . S . CORPORATE # AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS CHART 1 0 . # # OCT. DEC. SEPT. 10.13 6.63 9.27 I N D U S T R I A L STOCK INDICES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY NOV. NOV. DEC. NOV. NOV. NOV. NOV. 30 30 29 2 30 30 <-3 111.26 296.27 113.81 143.70 99.31 75.89 94.5 8 # FEDERAL RESERVE statistical release • H.10(512) DECEMBER 1 0 , FOREIGN EXCHANGE RATES FOR THE WEEK ENDING DECEMBER 7, f^AL 1979 1979 The Board of Governors of the Federal Reserve System is advised that the Federal Reserve Bank of New York has certified for customs purposes the following noon buying rate in New York City for cable transfers payable in foreign currencies: COUNTRY AUSTRALIA AUSTRIA BELGIUM CANADA DENMARK FINLAND FRANCE GERMANY INDIA IRELAND ITALY JAPAN MALAYSIA MEXICO NETHERLANDS NEW ZEALAND NORWAY PORTUGAL SOUTH AFRICA SPAIN SRI LANKA SWEDEN SWITZERLAND UNITED KINGDOM MONETARY UNIT DEC. DOLLAR SC H I L L I N G FRANC DOLLAR KRONE MARKKA FRANC D. MARK RUPEE POUND LIRA YEN DOLLAR PESO GUILDER DOLLAR KRONE ESCUDO RAND PESETA RUPEE KRONA FRANC POUND 109.7000 8.12018 3 . 5 8 2 95 85.6458 18.9036 27.0015 24.8602 58.5480 12.5000 215.5000 0.12387 0.40178 46.1574 4.3725 52.7426 97.8500 20.4123 2.0182 120.7000 1.5097 6.4300 24.1955 63.9182 221.3000 3 DEC. 4 (RA1FE U . S . CENTS DEC;. 5 109.7500 8.01925 3.55745 86.0067 18.7441 26.9251 24.6002 57.9274 12.3800 214.1500 0.12296 0. 40404 45.9348 4.3764 52.1376 97.7500 20.2634: 2.0100 120.9400 1.5072 6.4300 23.9578 62.9129 219.4000 109.7000 7.94597 3.51741 85.7412 18.5185 26.7308 24.3902 57.2738 12.3500 211.5500 0.12285 0 . 4 0 7 00 45.8821 4.3773 51.7063 97.6500 19.9880 2.0000 120.8400 1.5072 6.4300 23.8038 62.1311 217.8000 DEC. 6 109.8500 7.96813 3.51000 85.6935 18.5185 26.7558 24.4081 57.3559 12.3000 212.0000 0.12277 0.41051 45.8926 4.3802 51.7598 97.9000 20.0481 1 . 9 9 80 1 2 0 . 8000 1. 5053 6.4300 23.8265 62.3247 219.1000 DEC. 7 110.0000 7.89889 3.50631 85.8664 18.4757 26.6134 24.3605 57.0223 12.4500 210.8000 0.12200 0.41632 45.8926 4.3802 51.5198 97.8500 19.9302 1.9881 120.6500 1.4963 6.4300 23.7473 61.8620 216.6500
@FedFRASER